Real Estate Investor Insurance

Investing in real estate can be an exciting and risky venture. There are several distinct factors and liabilities to consider while choosing insurance for your property. Province Insurance will help manage those risks and protect your investments.

Getting the right insurance coverage is vital to protecting your real estate investment, and we are here to help identify the risks involved to find the right policy for you.

Having standard landlord insurance is the first step in laying out the foundation to protecting your investment. Standard landlord insurance includes some necessary protections against personal liability, property damage, or lost rent due to an empty property during repairs.

You will need to check how your policy handles periods where a property is tenantless. Risks such as a burst pipe or a fire are considered higher at this time because of the uninhabited property. If no one resides in the property, you may not discover disasters until it is too late, and the damage is far too severe.

If you are improving a property, such as a renovation or extension, you may need builders' risk and installation insurance. This covers liability for injuries to construction workers and protects against damage to property, such as vandalism or severe weather, while the property is still under construction and more exposed.

If you are renovating, extending, or otherwise improving a property, you may need builders' risk and installation insurance. This policy will protect against vandalism or severe weather while construction is ongoing and covers liability for construction workers' injuries.

To be educated further about insuring your property, contact Province Insurance today!